Steve Schwarzman of Blackstone
Source: Blackstone
Blackstone CEO Stephen Schwarzman will support Donald Trump as the former US president seeks to return to the White House, Axios reported on Friday.
Schwarzman, one of the largest political donors on Wall Street, intends to donate to Trump and several Republican Senate candidates, the report said, citing a statement from the investment management company's CEO.
Schwarzman, long seen as a Trump ally, announced in 2022 that he would not support the former president, saying it was time for the Republican Party to turn to a new generation of leaders. He did not support any candidate in this year's nomination contests.
Schwarzman said in the statement that concerns about economic, immigration and foreign policies under Democratic President Joe Biden, coupled with a “significant rise in anti-Semitism” in the country, prompted his decision to endorse Trump.
Before Friday's report, Schwarzman in March donated $375,000 to Buckeye Values, a super PAC supporting Ohio GOP Senate candidate Bernie Moreno that later organized rallies for Trump, campaign finance records show.
Blackstone did not immediately respond to Reuters' request for comment.
